Looking for Financing for STR

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Zach Edelman
Lender · New York, NY · Member since 2022 · 1k+ posts · 1k+ votes
3y

Charles - a cash-out refinance option with a DSCR lender that can use STR income (either in the form of historical booking history or Air DNA) should be perfect for you. There is a list of recommended lenders on BP for STRs that I would look at.

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  • Zach Edelman
    Lender · New York, NY · Member since 2022 · 1k+ posts · 1k+ votes
    3y

    Charles - a cash-out refinance option with a DSCR lender that can use STR income (either in the form of historical booking history or Air DNA) should be perfect for you. There is a list of recommended lenders on BP for STRs that I would look at.

    1Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    3y
    Quote from @Charles Wang:

    I am semi retired.  Have 3.3m in equity in my 10ish properties.  I am trying to purchase 2.3m home that should bring in 250k.  Looking for different finance options.  Thanks!


     Hey Charles, 

    Does the property you are looking to accquire need any rehab work? Do you have 12 months of short term rental history for any of your 10 properties? 

    Is the goal to put the least amount down, or have the lowest rate?

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
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  • Dave Skow
    Lender · Seattle, WA · Member since 2014 · 2k+ posts · 899 votes
    3y

    @Charles Wang- thanks - will the 2.3 mill property be an investment property or a primary home ? is it a SFR or multi family proeprty . Get a loan pre approval started to know what your options are

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  • Brayden Hrycko
    Lender · Allentown, PA · Member since 2023 · 207 posts · 38 votes
    3y

    Hey @Charles Wang, 

    You can DSCR refi some of your current properties to pull cash out or we can look at some blanket options as well. It would be more beneficial for us to learn more about your whole portfolio to make a decision. Feel free to reach out.

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  • Nicholas Ruscio
    Lender · Member since 2023 · 112 posts · 35 votes
    3y

    Hey Charles, 

    Like others have mentioned a DSCR refi would allow you to free up cash within the other properties. What would be the purpose of this new property?

    Im here anytime you would like to discuss further. 

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